Navigating the B2B sales landscape as a startup can be exhilarating and challenging in equal measure. While opportunities abound, pitfalls also lurk, waiting to trip up even the most enthusiastic teams.
Read MoreWhat is the most exciting thing in business is going to be when your start-up business is starting to take off and you can put things into place to make it your baby. Before your business even opens, you’ve put so much work into it behind-the-scenes to get to that point and it isn’t always seen by the general public just how much work goes into it.
Read MoreStarting a business is tough work for any entrepreneur, as it also takes patience and perseverance. And after your startup has had some success, it takes even more strategic thinking and planning to scale, acquire, and retain customers. We’ve rounded up a few tips you can follow to start and grow your business right from the beginning.
Starting a business for even the most seasoned entrepreneur is hard, and often taxing work. The process requires grit, fortitude, determination, organization, and a will of steel to fight through every doubt and every misstep in order to come through and succeed. Once your business is launched, you can rest easy for a bit – but a different kind of hard work begins when the scaling process happens.
You might have a beautiful logo and sparkling website, a blog that provides nuggets of valuable information, the perfect email sequence that engages your readers, or an online shop that has this season’s must-have fashion in it. None of these matters without website traffic, email subscribers, and customers. Acquiring and retaining customers is the bread and butter of any business success, but it can be easier said than done. So, taking inspiration and guidance from a wide range of sectors, how can we find customers and make sure they stay loyal to us over the long-term? What is the best way to start this process?
Below are a few simple ways to acquire and retain the right customers quickly and efficiently.
The first trick to get customers and keep them is to give something of value away for free. Businesses can’t run like charities, but the idea is that a small goodwill gesture at the start of the brand/customer relationship will result in further patronage. So, the initial outlay will be worth the money recouped over the long-term. Sometimes these freebies can be in the form of free shipping on all orders above a certain amount of money – which is a bigger factor in consumer decisions than most people realize. Many online retailers offer some variation of free shipping.
Other times, it could be special occasion discounts or specific promotions. For example, the Love Your Body Club at The Body Shop offers a $10 voucher during the month of your birthday, which would hopefully involve you then spending more due to the generous gesture. Streaming services often offer free trials to lure customers in, while print magazines also offer free issues initially to allow customers a chance to try them before they fully commit. At both FemFounder and Marquet Media, we offer free checklists, mini-courses, tutorials, and cheat sheets for our readers to download in exchange for their email address. Offering something that has a high-perceived value for free is one of the most effective ways to build your customer base for a very low cost. This helps the consumer get to know your business and build that line of trust.
Welcome offers act as an enticing invitation to all as the welcome bonuses from various online casino sites, e-commerce stores, and even some restaurants. Some sites could offer no-deposit spins on various slot games, while others promise cashback or money off their sportsbook, providing something for different kinds of customers. Moreover, clothes retailer ASOS often provide a 10-15% discount on purchases for new customers who sign up. Many other retailers offer similar discounts to help build consumer trust. For instance, the luxury retailer, Bloomingdales offers new customers a 10% discount on future purchases while online retailers such as Athleta offer a 20% discount for anyone who signs up for the email list.
Telecoms companies are major providers of new customer offers, with some people hopping from provider to provider to take advantage of all the offers. Existing customers often cite their reason for leaving a provider being that new customers pay significantly less and are valued more. But in an industry where there are no fresh customers, poaching other companies’ customers is the only way to grow.
Some companies provide discounts if you do something or take a specific action on the website or social media. For instance, these could be chances to win for sharing posts and commenting on competitions on social media, which can be particularly effective on Instagram or Facebook. This tactic helps your brand become amplified to a wider audience, many of whom may see the original poster as someone of influence to listen to.
Sometimes, the only action you want from customers is their email address for your list. Sales promotions can help here as we can see from UK hotel chain Travelodge, which provides 10% off bookings when you sign up to its mailing list. Other hotel chains in the US offer similar discounts. For instance, Hilton Hotels is now offering 130K points with the Hilton Honors Surpass Card, which is a credit card. Hilton Honors points enable consumers to upgrade their rooms or exclusive access to various perks. For those who travel quite often (especially for work), this card can provide benefits that other credit cards simply do not have available.
Overall, sales promotions are a key marketing technique in order to attract customers and then provide them with reasons to stay loyal. Using special offers to entice is a clever strategy that appeals to everyone’s love of a bargain. They also see it as a way that you are going above and beyond for them, even if it is just a 10 or 20% discount. Combining some of the main sales promotions outlined above could be the most effective way of getting and keeping brand new customers.
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